Texas Capital Bank Wealth Management Services Inc acquired a new position in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM – Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 27,500 shares of the company’s stock, valued at approximately $3,006,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Rathbones Group PLC boosted its position in ARM by 4,638.8% during the 4th quarter. Rathbones Group PLC now owns 500,043 shares of the company’s stock valued at $54,660,000 after acquiring an additional 489,491 shares in the last quarter. Paragon Capital Management Inc. purchased a new position in shares of ARM in the 4th quarter valued at about $826,000. Lansdowne Partners UK LLP acquired a new position in ARM in the 3rd quarter worth about $8,486,000. Hyperion Asset Management Ltd acquired a new position in ARM in the 3rd quarter worth about $202,980,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in ARM by 34.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,188 shares of the company’s stock worth $2,644,000 after buying an additional 6,232 shares in the last quarter. Institutional investors own 7.53% of the company’s stock.
Analyst Ratings Changes
ARM has been the subject of a number of research analyst reports. Needham & Company LLC increased their target price on ARM from $200.00 to $255.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Sanford C. Bernstein assumed coverage on ARM in a research report on Monday, May 18th. They issued an “outperform” rating and a $300.00 price objective for the company. Raymond James Financial restated an “outperform” rating on shares of ARM in a research report on Thursday, May 7th. New Street Research upgraded ARM from a “neutral” rating to a “buy” rating in a research report on Thursday, February 5th. Finally, KeyCorp reiterated an “overweight” rating on shares of ARM in a research note on Thursday, February 5th. Twenty investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $208.79.
ARM Trading Down 5.8%
ARM stock opened at $302.71 on Thursday. ARM Holdings PLC Sponsored ADR has a 12-month low of $100.02 and a 12-month high of $325.00. The company has a market cap of $319.82 billion, a price-to-earnings ratio of 360.37, a PEG ratio of 11.67 and a beta of 3.40. The firm has a 50 day moving average of $190.61 and a 200-day moving average of $146.68.
ARM (NASDAQ:ARM – Get Free Report) last issued its quarterly earnings data on Wednesday, April 1st. The company reported $0.60 earnings per share (EPS) for the quarter. The firm had revenue of $1.49 billion during the quarter. ARM had a return on equity of 12.43% and a net margin of 18.37%. Sell-side analysts forecast that ARM Holdings PLC Sponsored ADR will post 1.12 earnings per share for the current fiscal year.
Insider Activity at ARM
In other news, insider Richard Roy Grisenthwaite sold 24,339 shares of the business’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $209.15, for a total transaction of $5,090,501.85. Following the completion of the sale, the insider directly owned 5,543 shares of the company’s stock, valued at $1,159,318.45. The trade was a 81.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider William Abbey sold 2,300 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $305.82, for a total transaction of $703,386.00. Following the sale, the insider directly owned 31,329 shares of the company’s stock, valued at $9,581,034.78. This represents a 6.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 279,266 shares of company stock worth $57,502,031.
ARM Company Profile
Arm Limited (NASDAQ: ARM) is a global semiconductor IP company best known for designing energy-efficient processor architectures and related technologies that underpin a wide range of computing devices. Founded in 1990 as a joint venture between Acorn Computers, Apple and VLSI Technology and headquartered in Cambridge, England, Arm develops the ARM instruction set architectures and core processor designs that chipmakers license and integrate into custom system-on-chip (SoC) products. The company operates a licensing and royalty business model rather than manufacturing chips itself.
Arm’s product portfolio includes CPU core families (such as Cortex and Neoverse lines), GPU and multimedia IP (Mali), neural processing units (Ethos) and a suite of system and physical IP blocks.
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